UK Retail Sales Growth Slows to Six-Month Low in Oct – CBI

British retail sales grew at the slowest rate in six months in October after recording strong growth the month before, a survey by the Confederation of British Industry showed on Thursday.

The CBI distributive trades survey’s sales balance dropped to +19 from a four-month high of +49 hit in September, the lowest balance since April and the biggest one-month fall in the index since February.

The expected sales balance for November also fell sharply to +24 from the level of +51 which stores had expected for October.

“Growth in sales and orders for high street retailers remains resilient, but there has been a slight slowdown in the pace of that growth following a strong September,” CBI director of economics Rain Newton-Smith said.

Reuters

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